The Lone Star Brewery’s owner has avoided foreclosure by refinancing its debt, putting a stop to the financial chaos that has engulfed the brewery since a $300 million plan to redevelop it fell through last summer. less

The Lone Star Brewery’s owner has avoided foreclosure by refinancing its debt, putting a stop to the financial chaos that has engulfed the brewery since a $300 million plan to redevelop it fell through last ... more

Photo: Gloria Ferniz /San Antonio Express-news

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Click ahead to see how the redeveloped Lone Star Brewery was imagined before plans were scrapped.

Click ahead to see how the redeveloped Lone Star Brewery was imagined before plans were scrapped.

Photo: Renderings

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Developers Aqualand Development of San Marcos and CBL & Associates Properties of Chattanooga, Tenn., had planned to demolish a few structures and preserve most of the brewery complex.

Developers Aqualand Development of San Marcos and CBL & Associates Properties of Chattanooga, Tenn., had planned to demolish a few structures and preserve most of the brewery complex.

Lone Star’s developers have drawn up plans that make room for three multifamily buildings on Lone Star’s initial 32-acre footprint, which will also include 376,000 square feet of retail and office space.

Lone Star’s developers have drawn up plans that make room for three multifamily buildings on Lone Star’s initial 32-acre footprint, which will also include 376,000 square feet of retail and office space.

The owner of the Lone Star Brewery is facing foreclosure again — this time, on an abandoned industrial site on the western border of the brewery, which remains vacant after plans for a $300 million redevelopment project fell through.

The 3.1-acre property on Probandt Street will be sold on the steps of the Bexar County Courthouse on Tuesday morning, county property records show. It is owned by Lone Star Brewery Development Inc., a subsidiary of Houston investment company Parkview Capital Credit.

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Tuesday’s foreclosure results from a $2.5 million loan that Lone Star Brewery Development took from locally-based Newell Commercial Properties in 2015, according to the property records.

Reached by phone, Parkview CEO Keith W. Smith declined to comment.

NRP Group, a Cleveland-based developer that is one of the most prolific multifamily builders in San Antonio, sued Lone Star Brewery Development late last year for failing to refund a $550,000 deposit after a deal to buy land for an apartment complex at the brewery fell through. Smith wouldn’t comment on the lawsuit.

Construction was supposed to start last summer on a highly-anticipated $300 million project to rehabilitate the dilapidated brewery into retail shops, office space, apartments and a hotel, but the effort collapsed.

The brewery’s troubles started around June, when national retail developer CBL & Associates withdrew from the rehabilitation project after learning that its partner, Mark Smith of San Marcos-based Aqualand Development, had a history of legal and financial troubles. Parkview took control of Lone Star Brewery Development — and, as a result, the Lone Star property — from Aqualand that month, according to federal securities filings.

Earlier this month, CBL and Lone Star Brewery Development submitted paperwork to the county indicating that they officially terminated their agreement, records show.